Dogecoin (DOGE) holders place a lot of trust in Elon considering integrating Doge to Twitter. They feel this will be the best move for DOGE. If Elon Supporting Doge on Twitter happens this will help Doge move in the bullish trend considering usability.
Elon’s resignation from Twitter made several users feel that Doge will not get the influencer benefit from Elon. The reality is that ever since Elon became the owner of Dogecoin he never mentioned anything about Doge. Believers state that even if he is not the CEO, he still is the owner of Twitter. There is still no guarantee though.
Safer investments and cryptocurrencies with potential to bring bigger gains is the search of the hour. When Elon took over Twitter, there was a price hike for Doge and that was mere speculation. Doge rose to fame.
The expectation that Doge will be used for Twitter is soaring high. All the expectations around Doge is based on the expectation of the adoption of Doge for Twitter based transactions.
Dogecoin is an inflationary currency. And, therefore there is no limit as to how many units are in circulation. When more units of Doge are printed the buying power of inflationary currencies will reduce. The addition of 5 billion Doge to the supper every year should make some sense and find some use.
The Dogecoin blockchain will not be able to interact with smart contracts. Smart contracts are the foundational basis of DeFi and NFT Apps. Since Dogecoin does not have the capacity to interact with smart contracts, the integration is hard.
Defi helps several thousands of investors to be able to create passive income. The same is the case with NFTs. Therefore, it is important for Doge to be able to integrate with smart contracts to find some widespread transactional use in the cryptocurrency space.
A widespread criticism is that lack of utility will make it hard for experts to be able to back Dogecoin. Despite all Doge Fam are starting off 2023 with lot of hope in their own way. They hope things to be at its best for Doge in 2023. Believers are optimistic and are not bothered about reasoning and they expect for the price of Doge to touch $1 in 2023. They believe that even of Doge goes to Love will bring back Doge to $1.
A finance graduate, Maheen Hernandez has been drawn to cryptocurrencies ever since Bitcoin first emerged in 2009. Nearly a decade later, Maheen is actively working to spread awareness about cryptocurrencies as well as their impact on the traditional currencies. Appreciate the work? Send a tip to: 0x75395Ea9a42d2742E8d0C798068DeF3590C5Faa5
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